Yesterday’s 27th Annual 5 Borough Tour started out with a little bit of rain, but it turned out to be a very awesome day. We rode our bikes over 42 miles with the streets closed to cars from Battery Park, pass ground zero, up 6th Avenue into Central Park and then Harlem into the Bronx, back down the FDR in Manhattan to the 59th Street Bridge, through Queens and Brooklyn and finally the winds died down as we climbed the 2.5 mile span of the Verrazano Narrows Bridge (the longest suspension bridge in the US) into Staten Island.

I have done this ride every year except two since 1986. If you like to bike ride and live in New York City.

First of all, I wish Google all the success in the world in its IPO, I hope it makes tons of money for the company, shareholders and its founders, they deserve it. I love when the free market rewards entrepreneurs. Google is the best damn place on the Internet, period. I have it as my home page and use the Google Toolbar extensively.

That said, I will not buy the IPO shares. Google is valued at 20 to 25 billion dollars. I don’t know how that happened because until yesterday, Google’s revenues were a total mystery to the entire planet except to their CFO and the Venture Capitalists Kleiner Perkins who invested in Google a while back (and also invested in my company four years ago).

I read the public S1 filing document today. Google’s revenue was just under a billion dollars last year. We can do the math, 25x revenues is super overvalued. So let’s look at earnings. Last year Google had $343 million of operating costs (you think a server farm of a gazillion servers is cheap?) so its valuation is at 73x earnings. That is crazy talk.

Sure Google can grow. This year they are projected to grow by more than 50%, but of course operating costs will actually double. They are projected to have revenues of $1.6 billion and operating costs with $620 million that will put earnings at about a billion. That sounds like a huge jump in one year, but hey they do have a kick-ass product. Even so, 25x earnings is still an overvalued stock, no matter how you look at it.

You know what this sounds like to me? The late 90s internet bubble. So let the buyer beware.

I am officially boycotting the US Postal Service after they dropped their sponsorship of Lance Armstrong. Like 5 tours is not enough? I am sure that someone will pony up the money for the greatest team in pro cycling.

Just a few days ago Lance won the Tour of Georgia, a 1,000 km stage race. Next stop, a 6th Tour de France victory in July.

So it is official. I am going to be climbing Mt. Kilimanjaro in Tanzania this October.

Kilimanjaro is the tallest mountain (well technically it is a volcano) in Africa.

Crazy enough to join me are two fellow RDs, Paul Sheriff and Richard Campbell. At 19,340 feet, this will edge out my time on Everest as the highest altitude I have been to. We are going to take the Western Breach route, sleep the last night at 18,000 feet and summit on the “real” side. When we come down, we will do a 5 day safari so expect lots of photos.

That is what I said to the ticket salesman last night at Shea Stadium as I bought a $5 ticket to the Mets v Expos game. Cheaper than a movie, Linda, Sara and I entered with high expectations. After a $6.50 beer, $2.50 hotdog and $3 popcorn, the Mets did get their money. The game was fun, pitching was good, but the Mets came up short 2-1. We had to shout French curses at the Montreal Expos, it was a hoot.

CA’s Chairman and CEO Sanjay Kumar has stepped down and resigned his position from the board. Enron/WorldCom style accounting scandals have reached our industry. It is a sad day. In a strange move, CA has created a new position for Kumar as chief software architect. Why keep him around at all? Did he do something wrong? If not why did he have to resign then? Investors and customers want to know.

Sanjay is also the co-owner of the New York Islanders NHL team, is there something going on there too? I mean they just lost in the first round of the playoffs.

A sidebar, I have always wondered what it would be like if CA were based in Canada. Their home page would be www.ca.ca